Wells Fargo raised the firm’s price target on eBay (EBAY) to $84 from $66 and keeps an Equal Weight rating on the shares. The firm views gross merchandise volume acceleration reported in Q2 and guided to in Q3 as a sign of robust demand in collectibles, supported by broader-based Focus Category strength. Wells sees lapping Q4 collectibles/International strength as next milestone for stock seeking a growth re-rating.
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